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Cryptocurrency News Articles

Solana (SOL), Avalanche (AVAX), and XRP Are Gaining Momentum—Fast

May 23, 2025 at 10:30 am

As capital begins rotating ahead of what many expect to be a major 2025–2026 bull cycle, attention is shifting toward three powerful contenders

Solana (SOL) price is currently trading in a range between $172 and $177 after managing to close and reclaim a key resistance level, setting a strong bullish structure, according to Magacoin Finance.

Solana price could see a breakout past $185, leading to short-term targets of $200 and $250 if the momentum continues. Several analysts are bullish on Solana price as capital begins rotating out of Ethereum and shifting towards new opportunities in the latter half of 2025.

Solana is known for its unmatched transaction speeds and is a preferred Layer-1 network among traders seeking fast execution and low latency.

Solana: Ecosystem Growth and Developer Activity

Solana is currently facing competition from other high-performance Layer-1 protocols such as Avalanche, which has gained attention for its deep institutional adoption and regulatory breakthroughs with the launch of the first XRP futures ETF.

However, Solana is displaying resilience with its ecosystem growth and developer activity. The protocol has secured new cross-chain integrations, such as OKX launching xBTC on Solana, further enhancing its position as a flexible and versatile network.

Moreover, Solana's DeFi protocols are expanding rapidly, attracting the presence of meme coins, which are also contributing to the overall growth of the Solana ecosystem.

Solana price is recovering steadily, aiming for higher targets as it continues to consolidate above Fib levels and key SMA (Simple Moving Average) support.

Solana is currently testing the lower Fib88.60 at $171.17, having bounced off the Fib61.80 at $163.34 and Fib78.60 at $169.73. It has also found support at the SMA 100 at $168.47 and SMA 200 at $158.34.

Solana price is encountering resistance at the Fib23.60 at $179.48 and Fib38.2 at $184.59. A breakout past this level could open up further opportunities for traders to enter the market.

Solana price is expected to reach $200 if it manages to break out of the Fib38.2 at $184.59, setting a final Fibonacci resistance at $249.44 for traders to note.

Solana price is displaying strength and resilience despite facing competitive pressure from other Layer-1 protocols. With its unmatched transaction speeds, deep liquidity, and growing ecosystem, Solana is well-positioned to continue attracting traders and investors in the latter half of 2025.

Solana price is currently trading at $172.84, up 0.15% for the day.

Avalanche (AVAX)

Avalanche (AVAX) price may not be moving as quickly as Solana, but it's making waves in the realm of real-world utility, which could propel it to new highs.

Recent Developments: Music Platform Joins Avalanche Ecosystem

As reported by Magacoin Finance, EVEN, a music platform aiming to revolutionize the industry through blockchain technology, has announced its integration with the Avalanche blockchain.

This move highlights the increasing appeal of Avalanche to protocols operating outside the crypto-native sphere.

Avalanche is gaining recognition for its high throughput, low latency, and smart contract capabilities, making it an attractive option for protocols seeking to expand their reach and enhance their performance.

Avalanche Price Chart Analysis

Avalanche price is currently consolidating in a range between $36 and $42, setting a bullish chart setup that could lead to a breakout later in 2025.

Avalanche price has dropped to lows of $35, testing the Fib61.80 at $34.34 and finding support at the SMA 100 at $34.74 and SMA 200 at $33.47.

However, traders have pushed back against further declines, preventing price from falling below Fib61.80 and setting a floor on this descent.

Avalanche price has faced resistance at Fib23.60, aiming for higher Fib levels and testing the SMA 200 as traders prefer to play in the black.

A breakout out of this consolidation could see large buy-side institutions placing bids to push price higher, setting a final Fib88.60 at $98.04 for traders to note.

Avalanche price is currently trading at $39.48, down 0.08% for the day.

XRP Price Prediction: Chart Analysis

XRP price has recovered strongly, now consolidating at $2.40 after a strong rebound from lows of $1.50, according to Magacoin Finance.

XRP price is now consolidating after a strong recovery, setting a

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Other articles published on May 23, 2025